TINC announces investments in renewables
TINC has invested in the development of the new off-shore wind farm Nobelwind, located in front of the coast of Zeebrugge, Belgium.
Nobelwind is a realisation of Parkwind and comprises 50 MHI Vestas turbines of each 3,3MW or a total capacity of 165 MW. TINC invests €3 million in a subordinated loan issued by Nobelwind NV, owner and operator of the off-shore wind farm, ranking senior to the equity. This investment is a co-investment with, amongst others, the unlisted infrastructure company DG Infra Yield and the shareholders of Nobelwind.
For TINC this is the third investment in the Belgian off-shore wind sector, after previous financings of the wind farms Belwind and Northwind.
TINC has also increased its participation in the existing portfolio company Solar Finance. This occurred together with a refinancing of the existing bank financing and represents an additional investment by TINC of appr. €4 million. TINC holds now 87% of the shares. Solar Finance holds and operates decentralised energy production units delivering power to industrial clients at 48 locations in Flanders.
Since the date of the initial public offering, TINC has invested appr. €25 million in existing and new portfolio companies, which represents appr. 2/3rd of the funding raised in the IPO and reserved for investments.
Country news
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October 02, 2014
Sumitomo Corporation purchases shares in 2 Belgian offshore wind farm projects
Sumitomo Corporation has completed the purchase of shares in two offshore wind farm projects, Belwind and Northwind, off the coast of Belgium from Parkwind NV. Read more -
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Ofgem gives green light to Project Nemo
Ofgem has announced its final decision on the financing and regulatory regime for Nemo Link, an interconnector which, on completion in 2019, will bring an additional 1 GW electricity capacity to Great Britain. Read more -
March 03, 2015
GB and Belgium sign JV agreement for electricity interconnector
UK National Grid and Elia, the Belgian electricity transmission system operator, signed last week a joint venture agreement to move ahead with the Nemo Link – the first electricity interconnector between the two countries. Read more -
June 10, 2015
NEMO LINK announces €500 million contracts to build the first interconnector between GB and Belgium
NEMO LINK has announced Siemens and J-Power Systems, the Japan-based subsidiary of the Sumitomo Corporation, as the two winning contractors who will build the first interconnector between GB and Belgium. Read more -
July 23, 2015
EIB financing sought for Belgian offshore wind farm
The European Investment Bank (EIB) has announced that it would financially back the 165 MW Nobelwind offshore wind project in Belgium. Read more
